Petrochem names Fahad Al Theban new acting CEO, as Alismail exits

National Petrochemical Co.’s (Petrochem) board of directors approved the resignation of managing director Abdulrahman Saleh Alismail, who will join Saudi Industrial Investment Group (SIIG) as its new chief executive officer (CEO), effective from Jan. 1, 2021.

Alismail’s resignation was accepted today, Dec. 24, and will come into effect as of Dec. 31, 2020, Petrochem said in a bourse statement, adding that Alismail will retain his position as a member in the board of directors.

Petrochem board also named Fahad Abdullah Al Theban, as the acting chief executive officer, effective from Jan. 1.

Al Theban holds a bachelor of statistics from King Saud University. He has extensive experience of more than 25 years in petrochemicals. He joined Petrochem in 2011, the statement added.